Onehouse, a Menlo Park, CA-based managed data lakehouse company, raised $25 million in Series A funding to continue to build a fully-managed, cloud-native data lakehouse service that leverages Apache Hudi under the hood, bringing the total raised to $33 million.
The round was co-led by Addition and Greylock, who both co-led the seed round. Onehouse plans to use the money to continue to advance Onehouse and grow the team to meet market demand.
The company also announced a new feature called Onetable that advances its vision for easier, cheaper, and faster data lakes.
Onetable lets users take advantage of all the scale, interoperability, and cost benefits of data lakehouses built on the popular Apache Hudi open-source project while fully leveraging native performance accelerations in Databricks and Snowflake.
Onehouse founder and CEO Vinoth Chandar said, "Over the past year, we have built a first-of-its-kind cloud product to get data lakes up and running with just a few clicks. With Onetable, we are addressing a huge gap in the market around data interoperability, while enabling our customers to use Onehouse seamlessly with any major query engine.”
Onehouse automates the foundation of the data lakehouse in four easy steps, saving months of extensive engineering efforts. Users securely connect their cloud account, and then Onehouse quickly ingests, auto-optimizes, and manages powerful incremental ETL pipelines to deliver minute-level analytics on the data lake.
Today Onehouse is releasing Onetable so Hudi data lakehouses can fully leverage native performance accelerations in Databricks and Snowflake by interoperating with their respective open metadata layers, Delta Lake and Apache Iceberg.
Company: Onehouse
Raised: $25.0M
Round: Series A
Funding Month: February 2023
Lead Investors: Addition and Greylock
Additional Investors:
Company Website: https://www.onehouse.ai/
Software Category: Database Software
About the Company: Onehouse is founded by a former Uber data architect and the creator of Apache Hudi, who pioneered the fundamental technology of the lakehouse. Onehouse provides a cloud-native managed lakehouse service that makes data lakes easier, faster, and cheaper. The company's platform is a self-managing data layer that seamlessly interoperates with any of the query engines, providing businesses with the ease of using a data warehouse with the cost and scale advantages of a data lake, which also automatically ingests, manages, and optimizes data for faster processing. Onehouse blends the ease of use of a warehouse with the scale of a data lake into a fully managed product. Engineers can build data lakes in minutes, process data in seconds, and own data in open-source formats, not locked away to individual vendors.
Source: https://www.globenewswire.com/news-release/2023/02/02/2600865/0/en/Onehouse-First-to-Make-Fully-Managed-Data-Lakes-Possible-Raises-25-Million-Series-A-From-Addition-and-Greylock.html